The Light opens six-screen theater in Sibiu

The UK-based movie theater chain, The Light Cinema, leased 2,000 sqm space in Shopping City center where it will open a six-screen theater in spring next year, DTZ Echinox the property manager said.

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The opening of the cinema is planned for spring 2011 and belongs to a larger project that aims to modify the access zone in Promenada Mall. The construction works are due to start this spring and to be finalised by the end of the year, the gross leasable area following to increase to 5,000sqm.

“Negotiations with international retailers are held in order to bring new fashion anchors in the commercial center. These actions complete the efforts of improving the retailer mix carried in 2009, when important brand names such as Humanic, Orsay, Toyplex have opened in Shopping City Sibiu”, DTZ Echinox said in a release.

The first The Light theater in Romania was opened at the end of October, in Liberty Center in Bucharest, which represented an investment of €6 million.

Shopping City Sibiu is an 80,000 sq m GLA retail park anchored by leading international retailers including Real Hypermarket (owned by Metro AG), Carrefour, Baumaxx DIY, Media Galaxy, Mobexpert, along with a wide range of tenants such as New Yorker, Takko, Hervis, Deichmann, Orsay, Humanic, Adidas, Reno, Kenvelo.

Argo Real Estate is a property fund listed at the London Stock Exchange. Argo purchases and developes retail project in Central and Eastern Europe, especially in Romania, Ukraine and Republic of Moldavia. Shopping City Suceava is the second retail project in Romania and was opened in April 2008.

In January 2010 DTZ Echinox has been appointed by Argo Real Estate to handle the property management of Shopping City Suceava and Shopping City Sibiu.